Magazine

Your Health & Finances Are More Similar Than You Think

By Alex Stried

Whether you’re working on your health or your finances, self-improvement
is all about practicing positive behavior.

Before joining the Ellevest team, I worked at Weight Watchers. The two
companies may seem very different, but when you think about how they
serve people, they actually have a lot in common.

Both organizations work to help people achieve their goals.

And whether that goal is to maintain a healthy weight or to retire
comfortably, I’ve heard over and over again that getting started is the
hardest part. That’s why enlisting support—from Weight Watchers or
Ellevest—is a great first step.

You tell us where you are and what you want to achieve, and we give you a
detailed plan that can get you going right away.

I’ve heard over and over again that getting started is the hardest part of achieving your goals.

Setting specific goals, instead of generally saying you want to “lose
some weight” or “save more money,” helps focus your efforts and track
your progress. With weight loss, you aim to shed 10% of your pounds to
maximize your health benefits. With money, we recommend saving 20% of
your salary because people who do are better off financially, especially
when it comes to retirement.

You also have to be realistic about your timeframe. People want to see
immediate returns, but slow and steady wins the race. You can’t expect
to drop 75 pounds in a few months, just like you can’t expect your
portfolio to grow every single month. Instead, at Ellevest, we
concentrate on growing your portfolio over a long time horizon to reach
your goals.

Consider that you make more than 200 food decisions a day. What you have
for breakfast, whether you’re going to have a snack, if you have a slice
of cake—each choice weighs into your progress. The same goes for your
money. Every time you swipe your credit card, add money to your
retirement account or buy a stock, for example, it impacts your whole
financial picture.

Once you successfully get started, making good choices that help you
stick with your plan will come more easily. They become part of your
routine. Then, when you skip those unhealthy snacks or frivolous
purchases, you won’t even feel like you’re making sacrifices. Your
positive behavior will be all about living your better life.

Money is power.Invest like a woman.

We create personalized investment portfolios based on your finances and a gender-specific salary curve. Get started: Open an account today.